WHAT EVERY SENIOR SHOULD KNOW?Jill RaynerDirector

Applying for Financial aidFree Application for Federal Student Aid

(FAFSA) Available Jan 1st www.fafsa.gov Can used estimated taxes Need a Federal pin for both student

and parent (if dependent) Important to meet preferred submit

date North Georgia – March 17th

FAFSAPreferred Submit date – March 17th

Priority for campus base aid and need based scholarships

Deadline for submitting FAFSA – May 1st

Deadline for all paperwork and file completed – July 1st

HOPE Scholarship Application www.GAcollege411.org HOPE only application Some schools require both forms

www.FAFSA.govWithin 24 hours, you will receive a SAR

(Student Aid Report). Either by the email listed on your FAFSA or through the mail

Common Errors on SAR Leaving Blank fields Using commas or decimals –round to the nearest

dollar Listing incorrect Social Security Number or Driver’s

license number Failing to use your legal name Entering the wrong address – make sure it matches

what you reported to the school Entering the wrong federal income tax paid amount Incorrectly filing income taxes as head of household

More common errors Listing parent marital status incorrectly – if your

custodial parent has remarried, you’ll need the stepparent’s information as well

Failure to register with the Selective Service – once a male turns 18, they must register or be denied aid.

Reporting yourself as a veteran but you have only completed military training and have not served on active duty

EFC Number Expected Family Contribution (EFC)

The number is not a dollar amount but a number the financial aid office uses to determine what type and how much aid a student is eligible for to help pay for school.

Stays the same regardless of the college

Check for EFCOn the right hand top corner, you should

see an EFC (Expected Family Contribution) number…

If you do not, then you have a major error, read the front of the SAR to find out what is needed to correct the error.

Examples of Major Errors Missing student or parent

signature If you did not have a PIN to sign your FAFSA

at the time you filed it out, go back to www.fafsa.gov and add your PIN.

Examples of Major ErrorsTaxes paid = income earned

Check to make sure your tax information is correct

You also can go back on www.fafsa.gov and see if you can transfer your IRS data from your filed tax return onto your FAFSA (best solution)

Correction Codes (C-Code)

You may also see a Correction Code listed on your SAR:

When you submit your FAFSA, the form goes through several federal databases to verify the information provided.

C- CodesSocial Security Administration:

Checks number and full name If an error is found, check your SAR. If

SAR is correct, provide a copy of your Social Security Card to the Financial aid office.

Selective Service All males must register for Selective Service at their

18th birthday.

C- CodesHomeland Security – checks citizenship

or permanent resident If found, may need to see birth certificate or permanent resident card

Department of Defense - checks veteran status

If found, then will need a copy of your DD214 to check active duty years of service.

C- Codes Death Records – checks local

records to make sure you are alive… if Social Security number is correct on SAR –

And you have a pulse…. Then contact your Financial aid office immediately for assistance….

Chosen for VerificationRead the front page to see if you have been chosen

for Verification If you are chosen then you will be hearing soon from

all the colleges on your FAFSA. Be ready….

The U.S. Department of Education chose 1 out of every 3 students for a process called verification. Fin Aid offices are required to collect different federal documents from you and your parents including tax forms, W2s, food stamp etc. We also must collect proof of child support and other documents based on information reported on your FAFSA.

SAR – Schools ListedCheck your SAR for all schools listed –

Make sure the school you want your SAR to go to is listed. If you have changed your mind about any school listed, send an email to that school’s financial aid office.

This will help cut down on the number of request your will get for additional information.

Important Note: Watch your school email account for

updates on your financial aid

Most schools only communicate through their school email account so it is important to check at least twice to three times a week.

SAR is correct – Now what?If your SAR is correct or if you were chosen

for verification and this process is complete – then you are in a GOOD to GO status…..

We are ready to tell you how much aid you are eligible for……..

You will get an AWARD Letter……

What is an Award LetterThe Award letter tells you how much aid

you are eligible based on your FAFSA and any other state information we have.

The Award letter can be adjusted depending on any new information we receive such as private scholarship funds, finding out you are HOPE eligible, or maybe receiving a school scholarship.

Financial Aid Terms: You need to know

Cost of Attendance includes:

Direct Cost – Tuition/Fees/ Room & Food

Indirect Cost – Travel/ Books

Cost of Attendance is the maximum a student can get in Financial aid.

Financial Aid Terms: You need to know

Financial Need is:

Cost of Attendance

minus

EFC (Expected Family Contribution)

Categories of Financial Aid

Need Based

Non – Need Based

The category of aid you receive is based on your unmet need.

Types of Financial Aid

Scholarships:Money that does not have to be paid back

Awarded based on need, merit, skill or unique characteristic

WARNING : Do not pay for scholarship list

Types of Financial Aid

Grants:

Money you do not have to pay backUsually awarded on financial need

Largest grant is the Federal Pell Grant.

Types of Financial Aid

Loans: Money students and parents borrow to

help pay college expensesRepayment usually begins after education

is finished or if you leave school.

Warning:Only borrow what you need

Types of Financial Aid

Employment:

Allows students to earn money to help pay for educational expenses

Can be on or off campus job as community service

Sources of Financial aid

Federal government – FAFSA

State government – Hope application

Private Sources

Civic Groups and churches

Employers

Federal Aid ProgramsFederal Pell GrantTEACH GrantSEOG Grant

Perkins LoanDirect Subsidized and Unsubsidized LoansParent Plus Loans

State Programs

Residency requirementsHigh School requirementsSAT/ACT requirements

Award aid on the basis of both merit and need

Some schools use the FAFSA as the application. Some require you to do both the FAFSA and the HOPE application .

STATE Programs

HOPE Scholarship HERO awards

Zell Scholarship Public Safety Officers grant

Georgia Military Scholarship ROTC Grant/ Future Officers Grant

GTEG for Private Schoolswww.gacollege411.org for more information

HOPE Changes Starts Fall semester 2011 Percentage rate – FY 11 90% Can change each year Determined by the state legislatures

HOPE Scholarship changed for Fall Semester 2011

What HOPE paid for Fall Semester 2011? HOPE will pay $137.88 per credit hour

for non-guaranteed tuition students HOPE will not pay for any fees HOPE will not pay any book allowance

Other HOPE changes Only pays regular undergraduate rate – will

not pay for total price of online courses Only pays up to 127 attempted hours Will only pay up to seven years past high

school graduation Graduate high school 2012 – stops June 2019 Active duty military service extension Current FY10 paid HOPE students

grandfathered inuntil June 2015

Losing HOPE and Reentry Back Same checkpoints 30, 60, & 90

attempted hours and every Spring semester

Can lose at any checkpoint but can only reenter after 30, 60 & 90 attempted hours.

NEW for Fall Semester 2011: You can only reenter one time

Losing HOPE and Reentry Back

Term Attempted hours

GPA HOPE Eligible status

Fall 2011 15 hours 3.0 continueSpring 2012 13 hours 2.7 Lose Spring

checkpointSummer 2012**

6 hours 3.5 Regain HOPE 30 hour checkpoint

Fall 2012 15 hours 3.0 continueSpring 2013 13 hours 2.5 Lose HOPE

forever

** Determine if attending Summer semester is mathematically in your best interest – calculate your HOPE GPA

Zell Miller ScholarZell Miller Scholars will receive full regular

tuition paid. Zell Miller scholars will not receive funding

for fees or books. A valedictorian and salutatorian from each

high school will be eligible to receive the Zell Miller Scholarship without consideration of the GPA or ACT/SAT requirements.

Zell Miller ScholarIn order to be a Zell Miller Scholar you must

meet all the following requirements: 1. In high school you must have a HOPE GPA

of a 3.7 or higher.2. Your SAT score on one single test for Verbal

and Math must be at least a 1200 or a composite ACT score of 26 or higher. Must take test before high school graduation

3. Your college HOPE GPA must be a 3.3 or above to maintain

Zell Miller scholar and HOPE checkpoints/ reentry

Term Attempted hours

GPA Zell Eligible

HOPEEligible

Fall 2011 15 hours 3.3 Continue n/aSpring 2012

14 hours 3.0 Lose Zell Spring checkpoint

yes

Summer 2012

6 hours 3.8 Regain Zell 30 hr checkpoint

n/a

Fall 2012 15 hours 3.3 Continue n/aSpring 2013

14 hours 3.0 Lose Zell forever – 60/Spring checkpoint

yes

Private SourcesFoundations, businesses, charitable

organizations

Deadlines and application procedures vary widely

Begin researching private aid sources early

Civic Organizations and Churches

Research what is available in your community

Check with your local high school counselor

Application process usually in your senior year

Small scholarships add up so apply!!!!!!!

Employers

Companies may have scholarships available to the children of employees

Companies may have scholarships for their employees

Example Chick-fil-a UPS and may more…..

Use these tools to help you decide

Your Financial aid professionals are always available to answer any questions.

http://www.northgeorgia.edu/finaid/

Resources for YouResources on website under New Students www.northgeorgia.edu/finaid Presentations Resources

Aid Summary / Glossary of terms Application checklist Tracking worksheet Cost of Attendance Award package comparison

Other websites to help

NASFAA http://www.nasfaa.org/students/About_Financial_Aid.aspx

Financial aid website http://www.finaid.org/

Student Aid on the webhttp://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp

Thank you

Please contact us if you need any additional assistance

finaid@northgeorgia.edu

706-864-1412